SERVING THE QUANTITATIVE FINANCE COMMUNITY

Alan
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Posts: 9777
Joined: December 19th, 2001, 4:01 am
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### Re: End of bitcoin?

bipartisan, one dem, one GOP

It's a valid issue, how should cryptocurrencies be regulated, if at all?
As securities?
And, perhaps most notably, under the bill’s definition, a digital token “is not a representation of a financial interest in a company, including an ownership or debt interest or revenue share.”
As commodiites?
As currencies?
As collectibles?
It seems to me there's a lot of overlap with casinos and gaming, esp online gaming.

So, maybe regulate the exchanges as you would online gaming. For example: Nevada online gaming regs  There is the known issue of running a money transfer business, which is the current licensing model, and that brings in FinCEN, perhaps banking regulators, and anti-money-laundering rules. Well, I suppose casinos have to deal with all that too, so again the casino framework seems to apply.

Finally, the crypto coins themselves are like the casino tokens, and apparently these have to be approved:  Chip and Token report. Of course, you can't stop somebody from inventing a new crypto-currency (nor would you want to), but you could force a licensed exchange to get approval to trade it.

Alan
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Posts: 9777
Joined: December 19th, 2001, 4:01 am
Location: California
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### Re: End of bitcoin?

Happy 10th Birthday Bitcoin. We're all still around (well, maybe not Satoshi). Here is the famous Genesis block with Satoshi's proof-of-date message seen decoded below the 'Coinbase'. The message source (The Times Jan 3, 2009) is apparently now quite a collectible:

tw
Posts: 1053
Joined: May 10th, 2002, 3:30 pm

### Re: End of bitcoin?

In terms of anniversaries, I hope the subject matter of the Times' headline doesn't prove to be prophetic.
Happy 10th Birthday Bitcoin. We're all still around (well, maybe not Satoshi). Here is the famous Genesis block with Satoshi's proof-of-date message seen decoded below the 'Coinbase'. The message source (The Times Jan 3, 2009) is apparently now quite a collectible:

ISayMoo
Posts: 1899
Joined: September 30th, 2015, 8:30 pm

### Re: End of bitcoin?

I hope this time we will be jailing bankers, not giving them money.

Alan
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Joined: December 19th, 2001, 4:01 am
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### Re: End of bitcoin?

bearish
Posts: 4812
Joined: February 3rd, 2011, 2:19 pm

It is of course sad that the young man died, but the rest of the story verges on amusing. Including the quote: As many as 115,000 account holders are owed $250 million, which is locked up in “cold storage” only accessible to the recently deceased founder and CEO, Gerald Cotten. Alan Topic Author Posts: 9777 Joined: December 19th, 2001, 4:01 am Location: California Contact: ### Re: End of bitcoin? It is of course sad that the young man died, but the rest of the story verges on amusing. Including the quote: As many as 115,000 account holders are owed$250 million, which is locked up in “cold storage” only accessible to the recently deceased founder and CEO, Gerald Cotten.

The plot thickens: WSJ: A Crypto-Mystery: Is \$140 Million Stuck or Missing?

BTW, it looks like a very nice specialty occupation for advanced bitcoinistas is "bitcoin forensics".

ppauper
Posts: 70239
Joined: November 15th, 2001, 1:29 pm

### Re: End of bitcoin?

lloydsatchwell
Posts: 28
Joined: April 27th, 2011, 4:00 pm

### Re: End of bitcoin?

CBC coverage even includes courtroom photos of Quadriga's bookkeeping on top of a stove, with a lit candle...

MrGrey89
Posts: 3
Joined: March 3rd, 2019, 3:32 pm

### Re: End of bitcoin?

Too much people started to farm bitcoin, Too much alternative coins appeared. I don't think bitcoin is finished... but it certainly going into a slumber right now...

pcp1301
Posts: 1
Joined: March 28th, 2019, 9:09 am

### Re: End of bitcoin?

Collector
Posts: 4205
Joined: August 21st, 2001, 12:37 pm

### Re: End of bitcoin?

lloydsatchwell
Posts: 28
Joined: April 27th, 2011, 4:00 pm

### Re: End of bitcoin?

The crypto-libertarian world view probably makes him nauseous given his positions on market inefficiences and cold words about Adam Smith's invisible hand. To be fair, at a fledgling stage there are quite a few inefficiences in that market structure..

His information asymmetry & adverse selection work is thought provoking, but he did endorse a Marxist to run the UK economy, so I'll go with yes, a good contra therefore bullish signal!

ISayMoo
Posts: 1899
Joined: September 30th, 2015, 8:30 pm

### Re: End of bitcoin?

In modern days, "a Marxist" is just a code word for "a politician who could raise my taxes".

Paul
Posts: 9214
Joined: July 20th, 2001, 3:28 pm

### Re: End of bitcoin?

No, that’s plain old socialist. The Marxist also takes away your home. Then imprisons you. And finally kills you. They have a “theory,” you see. Nothing as mundane as life experience.